Category: Inheritance
No stranger to unusual estate issues — like a pet eel with no named caretaker and a security detail for a ring worth half a million dollars — the Orange County Public Administrator’s Office is now preparing for an estate sale of Gerald Willits, who left behind 69 cars in his yard, several real estate […]
Young children are often the driving force for parents to come to see an estate planner and set up a trust. The concern that the worst possible situation may occur and the children will be raised without their parents is unfortunately something that must be considered. When parents do not plan ahead for their minor […]
It’s so easy to put off estate planning, when lives are busy and there are more inviting things to think about than death and taxes. Perhaps the most common mistake is thinking that estate planning is a do-it-yourself project. Only if you want your loved ones to inherit a mess! The biggest problem that results […]
For most people, turning down a million dollar inheritance seems crazy – but if you are already wealthy, turning down certain inheritances makes sense. When done correctly, turning down an inherited IRA can avoid increased tax liabilities. You’ll need expert guidance to handle this properly. Large IRAs present certain challenges to heirs. Currently, the beneficiary’s […]
Among the many benefits of having a well-designed estate plan is making the process of administering your estate much less of a burden on your heirs and maximizing assets that can be passed to subsequent generations. Another benefit to be valued – privacy. Estate planning can help your estate avoid probate, the legal process of […]
The tragic and untimely death of Whitney Houston’s daughter Bobbi Kristina Brown holds a number of lessons in estate planning that are applicable for parents and young adults. Because of laws that control information and decisions with regard to medical treatment, it is imperative that anyone over 18 have written advance medical directives in place. […]
Ernie Banks, known as “Mr. Cub” had been diagnosed with dementia just days before he signed a will leaving his small estate to a caregiver, charges his estranged wife. Seems like she isn’t done with him yet. In a case for resolving marital disputes sooner rather than later, the battle between Ernie Banks and his […]
FINRA launched the Securities Helpline for Seniors on April 20, and it became very popular, very quickly. In addition to calls from seniors, many calls came from adult children whose parents had died. The heirs weren’t sure what they needed to do to track down their parents’ broker-dealer account assets and how to transfer assets. […]
Being an executor of an estate is not an easy task, especially when it is for the first time. When you are named as an executor and the person has died, knowing what to do and how to prioritize the tasks can be challenging. In the best case scenario, the person has had a chance […]
When two women both claimed a child as their own, the dispute was brought before King Solomon. His edit was terrifying to hear, but had logic and a bit of psychology behind it: he ordered the baby to be cut in half to see how the women would react. The real mother would of course choose […]
